Water company gets favorable court ruling

The Indiana Supreme Court on Thursday ruled that Aqua America Inc.’s Indiana subsidiary has the right to have a jury determine how much the city of Fort Wayne should pay it for its northern system, which the city took over in 2002.

Aqua Indiana appealed the decision, seeking to have a jury decide the fair value of the system. The Indiana Court of Appeals denied its bid for a jury trial, but the Indiana Supreme Court’s ruling yesterday overturned that decision.

Aqua America Chairman and CEO Nicholas DeBenedictis said the company is considering its options and hopes to avoid returning to court.

Aqua America (NYSE:WTR) is based in Bryn Mawr, Pa. Through subsidiaries, it provides water and wastewater services to utilities in nine states.